Residential projects dominate contracts

Real estate

Residential construction for the four-county Metropolitan Orlando region far outpaced new non-residential projects last year, according to a report by McGraw Hill Construction.

Contracts in the region's residential-building sector exceeded $2 billion for the year — more than double the amount of contracts issued for non-residential jobs, according to the report, which was based on information from Dodge Research and Analytics. The report reviewed permits in Orange, Seminole, Osceola and Lake counties.

The trend of rising residential construction projects in the Orlando market continued through the end of the year. In December, more than $247 million worth of residential contracts were issued, marking an increase of 61 percent from December 2012. The sector was boosted largely by multi-family projects.

Non-residential construction in the region ended the year with only $39 million of contracts, which was down 73 percent from a year earlier, the report shows. That work included offices, retail, hotels, warehouses, manufacturing, education, health care, religious, government, recreational and other buildings.

Williams Co. President Bob Lipscomb said that, even though the report shows a downturn in non-residential work, the contractors he's familiar with have seen increased work during 2013 compared with a year earlier. On Tuesday, he said he had just agreed to construct a $31 million retail center in Osceola County. He is also starting two new Target centers in Miami.

"We are seeing a distinct improvement. In particular, the retail and distribution sectors are back, and the backlog of work is the best it's been in five years," he added.

Construction

Williams Co. Southeast is under way on the construction phase of Sysco Central Florida Inc.'s $1 million, design-build renovation of 12,000 square foot at 200 W. Story Road, Ocoee. Scheduled for completion May 30, the project includes a new entrance, interior finishes, six new multipurpose rooms, new restrooms and structural renovations.

Sales

J.R. Fabrication, a specialty theme-park construction and fabrication company, purchased a warehouse with 28,650 square feet at 10890 General Drive in Regency Industrial Park, Orlando. The property was purchased for $925,000 from United Grafix Inc. Greg Rebman and Cory Kroeger, with KR Properties, represented J.R. Fabrication and United Grafix.